Revenue Hub

SEPTEMBER 26, 2023

A precise calculation influences pricing strategies, ensures profitability, and strengthens the foundation of your business. Subscribe to our weekly newsletter and stay up to date The Hotel Room Pricing Scenario Imagine an offer on the table: a tour operator agrees to buy all your unsold rooms for the year at €35 each, breakfast included.

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Modern Restaurant Management

OCTOBER 13, 2022

Rising inflation has impacted businesses for the better part of the year, leading many to modify their menus and increase prices in the face of higher ingredient costs. There are a few ways that restaurants can provide loyalty rewards for customers who have downloaded their app. Consider Expanding Delivery Options in Your Market.

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Revenue Hub

JANUARY 25, 2023

Price is one of the key factors in any commercial transaction, whatever the product or service. It is true that the more unique and luxurious the hotel, the less the price matters. It is true that the more unique and luxurious the hotel, the less the price matters.

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Modern Restaurant Management

MAY 30, 2023

Just 20 percent of non-frequent users downloaded at least two restaurant apps. Unsurprisingly, Gen Zers were the most likely to download in 2023 – 45 percent have more apps now than in 2022. Frequent users (ordering from restaurants more than five times a week) were far more digitally engaged with brands.

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Revenue Hub

APRIL 25, 2024

Below you will find brief introductions and links to 5 case studies which can help hoteliers looking to optimize revenue, develop sophisticated pricing strategies, refine revenue management strategies, streamline operations, or seize opportunities in times traditionally considered off-peak.

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7 Shifts

NOVEMBER 23, 2023

Download now Table of Contents Assess your current payroll provider Choose a new payroll provider The best time to make the switch Migrate payroll systems Assess your current payroll provider Before you switch providers, you need to decide if it’s a worthy undertaking. The price is great. Implementation was a breeze.

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Modern Restaurant Management

MAY 30, 2023

Just 20 percent of non-frequent users downloaded at least two restaurant apps. Unsurprisingly, Gen Zers were the most likely to download in 2023 – 45 percent have more apps now than in 2022. Why does this matter to your bottom line?

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Hotelogix

JULY 11, 2024

From setting the right prices to attracting the right guests, every decision you make impacts your hotel's bottom line. Hotel revenue management involves strategically adjusting your hotel's pricing and availability to maximize revenue.   What is Revenue Management in Hotels?

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Hotelogix

OCTOBER 11, 2024

Hopper’s predictive pricing feature helps travelers find the best rates, using AI to track price changes and recommend the right time to book. With over eighty million downloads and partnerships with travel brands across the globe, Hopper has become one of the top choices for hoteliers and travelers.

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Modern Restaurant Management

MAY 31, 2022

ERP systems streamline and automate inventory management, provide real-time low-stock notifications, allow users to download critical data, and improve overall visibility into the business. Restaurants should consider what reports they can pull from a potential POS system and research other software prices and features.

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Modern Restaurant Management

MARCH 1, 2022

” “Given the intense pressure on margins caused by rising commodity prices and labor shortages, analysts may give credit to price increases for the overall rise in average check,” said Acerra. Compare that to average net price, which was up 7.5 App downloads remain strong. ” QSR App Adoption.

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Hospitality Magazine

OCTOBER 2, 2024

With expected interest rate cuts and falling energy prices on the horizon, 43 per cent believing they’ll be in a better financial position next year. The joint report is available to download here. Despite the current pitfalls, owners are optimistic.

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Modern Restaurant Management

JULY 16, 2020

Pinterest : If you want to share products, tutorials, or link to downloadable assets (an event-planning guide or recipe book, for instance), you can find plenty of female consumers and foodies on Pinterest. LinkedIn : Mostly business-focused and ideal for sharing news, product information, and reviews/testimonials.

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7 Shifts

AUGUST 7, 2024

It is affected by seasonality, market prices, and even pop culture. Determine your ideal menu price Multiply your plate cost by the food cost percentage to reach a target menu price. per serving Consider variables You can price the burger at $9.25 (rounding up) and make a profit on it. Food prices have been on a steady 2.6

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Modern Restaurant Management

FEBRUARY 3, 2022

Inventory and Menu Management : Though 47 percent of operators say that all or most of their suppliers increased prices during the pandemic, two-thirds of restaurants maintained or increased their menu offerings. For a free download of the report, click here. Over 500 FSR owners, managers, and presidents/CEOs from across the U.S.

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Revenue Hub

JANUARY 19, 2024

Well, that’s because they’re still paying prices from 2005, potentially causing you to miss out on some serious profit. How can you ensure they keep coming back without insisting on those old bargain prices that eat into your margins? Adjust Prices Periodically This one’s an oldie but goodie. And a curse?

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Revenue Hub

JUNE 13, 2023

NB: This is an article from Revenue Team by Franco Grasso , one of our Expert Partners One component is “dynamic pricing.” ” You’re familiar with this model when considering your rack rate vs. your bottom prices. First, consider your hotel has a pricing path. What are the bottom and starting prices?

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Hotel Business

JUNE 12, 2024

For some, revenue management systems—and there are numerous platforms to choose from—guide the pricing decisions based on various data points. For others, seasoned industry veterans use their years of experience to formulate their own systems of pricing principles. Every hotel has a revenue management strategy.

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Modern Restaurant Management

FEBRUARY 25, 2022

One of the most common mistakes for restaurants is to have a menu available only as a PDF, which needs to be downloaded. It needs to be visible to casual browsers who simply won’t take the time to download information that should be easily accessible. That needs to go. Your menu is one of your most crucial web pages.

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Modern Restaurant Management

SEPTEMBER 28, 2022

Also, since QR codes generate paperless menus, restaurants don’t need to worry about the cost of reprinting items to correct any mistakes, adjust prices, update food choices, change specials and much more. And for restaurants prioritizing money-saving habits, going digital is the easiest way to start protecting operating budgets.

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Modern Restaurant Management

MARCH 3, 2023

Key findings illustrating the industry's economic conditions include: Growth will continue : The foodservice industry is forecast to reach $997 billion in sales in 2023, driven in part by higher menu prices. " Click here to download the 2023 State of the Restaurant Industry Report, supported by SpotOn and Sage.

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Revenue Hub

NOVEMBER 2, 2023

The brainchild of two ex-Expedia executives, Hopper was first imagined in 2007, but was only launched in 2014, as its key differentiator – the price prediction algorithm that helps users find the very best flight and accommodation deals – took quite some time to develop.

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Revenue Hub

JANUARY 22, 2024

Quality has become as important as price in influencing customer decisions and enhancing the overall experience. Businesses can leverage customizable dashboards to download and visualize data, gaining a comprehensive understanding of their performance.

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Boutique Hotel News

JANUARY 16, 2023

Download the full report for country-specific data, charts, and additional commentary. In fact, 83 per cent of travel managers believe costs will be higher in 2023 than they were in 2019, with around a third of them (33 per cent) believing prices will increase significantly. Rising costs spur budget increases . Supplier takeaway.

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Modern Restaurant Management

AUGUST 31, 2021

Operators also continue to grapple with higher input costs, with wholesale food prices increasing at their fastest rate in seven years. Menu prices have increased nearly four percent through June 2021. Click here to download the 2021 State of the Restaurant Industry Mid-Year Update, sponsored by Sage Intacct. "Faced

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Modern Restaurant Management

JUNE 3, 2021

While 40 percent download mobile apps to bypass a long line, 48 percent will delete a restaurant’s app if they still have to wait once they’ve arrived. Apps are being downloaded for convenience and discounts. 35 percent would download an app if it meant restaurants knew when they are on their way or have arrived.

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Revenue Hub

OCTOBER 23, 2023

NB: This is an article from Amadeus Revenue managers are tasked with maximizing revenue and profitability, balancing occupancy and pricing, developing effective competitive demand strategies, understanding evolving guest needs, and more.

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Hotel Owner

JANUARY 9, 2023

In uncertain times, how do you strategically manage prices? . Pricing tools : they will provide handy reports and support rate changes, but they are reactionary, meaning you’re always a step behind market forces. Can you generate extra revenue to offset higher costs? . How can you maximise multiple revenue streams? .

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Modern Restaurant Management

APRIL 29, 2022

Even if you can’t order them at bulk pricing like normal, you can sell the drinks at such a high margin that it’s worth it. If you don’t have the time or know-how, menu template design services have free menu templates you can customize, download and print. Some fun drink specials include: Margaritas. Bonus caution!

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Modern Restaurant Management

DECEMBER 8, 2020

If customers could not order from their favorite restaurant on one platform, they would either download a competing application on which they could, or else order directly from the restaurant. So, is menu scraping legal? The non-partnered food delivery system is prone to other problems too.

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Revenue Hub

NOVEMBER 29, 2023

If revenue management is about selling at the right price at the right time, then understanding the booking window is key to identifying that opportune moment. During this time, as demand surges and room availability decreases, prices naturally rise. Download your free copy now!

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Revenue Hub

OCTOBER 24, 2024

There are customers at every price point. Tailor Prices and Promotions to Customer Segments Every hotel has different types of customers. Some are price-sensitive, while others have a larger budget. Some are price-sensitive, while others have a larger budget. Sometimes, it’s due to starting prices being too low.

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Serviced Apartments

AUGUST 4, 2023

All three extended stay hotel segments (economy, mid-price and upscale) are reporting record high room revenues both year to date and for Q2 2023. The full US extended stay hotels: Mid-year 2023 report can be downloaded here. US: A mid-year 2023 report from The Highland Group reveals that extended stay hotels have gained 3.2

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7 Shifts

OCTOBER 31, 2022

Download now. But give an idea of some dishes or drinks with projected price points. You should base this forecast on a few criteria: capacity, target market, delivery/takeout options, month-over-month growth expectations, hours of operation, and menu prices. Download now. Restaurant Business Plan Template. Sample Menu.

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Revenue Hub

JULY 4, 2023

They think it’s all about lower prices when it’s actually about online visibility and brand reputation. NB: This is an article from Revenue Team by Franco Grasso , one of our Expert Partners Lowering prices during low demand is one way to ensure you can maximize your room rates a few weeks later when demand picks up.

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7 Shifts

JUNE 4, 2021

Ideal menu price. Your CoGSs is an essential number to have when determining your menu prices, inventory and impacts your net profit margin. Recommended Download: Free Restaurant Labor Cost Calculator Template. It also plays a key factor in pricing your menu. Ideal Menu Price. What is ideal menu price?

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STAAH

JANUARY 8, 2023

By leveraging STAAH’s dynamic pricing and inventory management features and combining with attractive incentives, our partners have been able to grow bookings through their websites (direct bookings),” says Tony. “Our Download the full list: STAAH Top Channels 2022. New Zealand. Philippines. United Kingdom.

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